1 Glendale Grove, Mccrae, VIC, 3938, Australia

For developers and investors with a keen eye for transformation, take this 898sqm blank canvas and realise your real estate dreams.

Subject to council approval, the extra-large allotment has the potential to be subdivided into multiple dwellings including three separate titles.

With a captive market for high-end coastal homes, take full advantage of the quiet location and tranquil surrounds, including walking distance to the foreshore, McCrae Lighthouse and McCrae Plaza Shopping Centre.

Plenty of north-facing light and a sun-soaked veranda, the home itself could be rented easily in the short-term while you await subdivision approval.

The layout comprises an expansive living/dining area and a well-maintained kitchen as well as two spacious bedrooms that both come with built-in robes and share a bathroom/integrated laundry.

Other highlights include split-system heating/cooling, slow combustion wood heater and a large garage/shed.

Rare development opportunity, competitively priced and so well located, 1 Glendale Grove is the right block at the right time.